Exchanges do play an important role when it comes to the trading of cryptocurrencies. Cryptocurrency exchanges are mostly divided into two types :
- Centralized exchanges (CEX)
- Decentralized Exchanges (DEX)
Centralized exchanges are controlled by an entity where users can trade for cryptocurrencies, convert from to FIAT currency, and transfer to their Bank Accounts. Since these are centralized exchanges, the respective trading provider/platform will enable the processing of transactions. Centralized exchanges will have different requirements with respective KYC (Know Your Customer) norms basis on the region they operate in and the requirements of local regulators. Users will also have the option to buy cryptocurrencies with Bank Transfers, Credit cards, Debit cards, etc., Being Centralized Exchanges, these come with a wide variety of features like Features and Options, Market Orders, Limit Orders, in exchange staking, etc.,
Decentralized exchanges are not controlled by any single entity and seldom require any KYC details of the customer who trades in. One of the flipsides of the DEX is that they may not match up to the number of features offered by CEX.
Below are the Top Centralized Exchanges :
Binance is one of the Topmost exchanges in the world, which offers world-class features in cryptocurrency trading. Binance does expect its users to comply with KYC norms. However most of the cryptocurrencies, tokens are available in Binance for trading. It does support Card transactions, SEPA, Peer to Peer transactions for cryptos. Binance actively focuses on promoting Cryptocurrencies across the world and having its own Binance Smart Chain blockchain. BNB coin is one of the most sought crypto tokens nowadays, as transaction transactions on finance smart chain are increasing manyfold. Binance also has its own launchpad to launch new projects on its blockchain, where users can lock their BNB and earn new tokens before listing. You can open your Binance account by clicking here
Coinbase is one of the renowned market leaders in the crypto world. Unlike Binance it doesn’t have its own blockchain network, however, it is listed in the stock market. Coinbase does follow KYC norms for enabling its trading platform for users to use. Apart from trading services, Coinbase does offer an earning platform, where users can register for learning about new coins/cryptocurrencies and earn relevant coins. This is one of the coolest features available in the market. On listing day on its platform, there would be a huge surge in the price of a particular coin in the market. You may create an account by clicking here
Crypto.com is one of the major players in cryptocurrency exchanges. It offers different services varying from Staking, exchange, Lending, etc., under one roof. Under the supercharger section of their website, you can stake CRO(crypto.com own coin) and earn rewards in different coins like Doge, NEAR, ZIL, ENJIN, etc., as per the partnership. Crypto.com has their tie-ups with VISA card, where their top variant Obsidian offers almost 8% rewards, but there are different variants of the cards which offer different level of features. Apart from the above services, crypto.com is into Defi as well. so if you are looking for a one-stop solution, this would be it. You can open an account by simply clicking here.
Wazirx is one of the major players in crypto exchanges. It is an Indian exchange and acquired by Binance, post supreme court order, there is a tremendous surge in usage of Wazirx exchange in India. Wazirx offers to trade in cryptos for every low value (microtransactions can be done as low as INR 100) and quite a good number of coins are available in the market to trade-in. Withdrawals can be made to the Bank account register with the website. Wazirx does follow KYC norms for compliance purposes. One of the best features in Wazirx like Binance is that you can not only convert dust into WRX(Wazirx Token) but also seamlessly transfer funds from Wazirx to Binance. You can register by clicking here.
Apart from the above exchanges, there are other crypto exchanges like Kraken, Huobi, Kucoin, CEX, etc., and most of the major crypto exchanges follow KYC norms to comply with regulatory norms. But most of the crypto exchanges provide a robust platform for trading services.
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